Macroeconomics Research Paper
The Emerging Chinese Capitalistic Model
China is a topic that was brought up a lot during the 2012 election campaign. So I decided this was a good topic to do my research on. We will visit what capitalism is, privatization, and Chinas current state. Research shows the China has the potential to continue to be one of the worlds most successful economies.
China has a population of 1.3 billion. China is the world’s second largest country, which includes 22 provinces. China also has the world’s largest Army.There are 18 dialects of the Chinese language, 70% of the population speak Mandarin. The major religion in China is Buddhism, other forms include Taoism, and Chinese folk.The Government structure in China is communist. (The World Bank)
In communism the government owns all major factors of production. In China, “The current constitution was created in 1982 and been continually revised since. The constitution includes many civil rights: free speech, press, worship, the right to trial, and the right to own private property. However, in practice this constitution has widely not been followed. There has been very little done to ensure that new laws instituted follow the constitution. The judicial system does not provide any particular method for review of new laws.” ( )
China is slowly becoming more capitalistic. Capitalism is an economic system that is based on the privatization of the means of production and the production of goods or services for profit.Means of production and distribution are mostly privately owned. Capitalism encourages entrepreneurship and allows the possibility of private profits. Privatization is the process of transferring ownership of a business, enterprise, agency, public service or public property from the public sector (a government) to the private sector, either to a business that operates for a profit or to a non-profit organization. The term can also mean...